You’ve worked hard your entire life and made smart financial decisions to accumulate a lifetime’s worth of wealth, savings, and assets so that you can live your best life in retirement. With years of denying yourself the fancy things in life, you’ve even accumulated substantial wealth to pass down to your loved ones as inheritance. But did you know that you can lose everything you’ve worked hard for in a heartbeat if you’re sued? If you are in business, or a particular profession, or a partnership of some sort, you can get sued for a wide range of reasons. In America, more than 4 million lawsuits are filed every year. Currently, civil litigation is a multi-billion industry in America, where business owners, professionals, guarantors, and entrepreneurs are targeted as a source of revenue. Employees, creditors, theft, divorce, health issues, natural disasters, sexual harassment claims, and disgruntled business partners are some of the issues that can result in life-altering lawsuits for those who think they are immune.
Whether it is a legal dispute involving your business or marriage, a frivolous and predatory lawsuit by unscrupulous individuals taking advantage of the loopholes in the legal system to deprive you of your assets, or a health issue for which you’re being charged for medical negligence, a lawsuit can be stressful and financially disastrous. With huge litigation expenses involved in lawsuits, being embroiled in a lawsuit of any kind could leave you bankrupt in the end. That is why the importance of asset protection planning cannot be overemphasized. No one in business, professional service, or in a partnership of any kind is immune to lawsuits. No matter how well you’re doing, turning a profit is not enough. You must protect your business from creditor claims and lawsuits. At Leydorf Law Firm, PLLC, our area of greatest expertise is utilizing the best strategies to protect our clients from claims and lawsuits. Our knowledgeable and experienced asset protection planning attorneys at Leydorf Law Firm, PLLC can provide you with invaluable advice of how best to protect your assets.
If you are in business or professional practice, you could be hit by the following possible threats: